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TEDA Travel Group Announces Web-Based Travel Distribution

Software to Ensure Lowest Rate and Customized Bookings

TEDA Travel Group announced today a new strategic direction to go
online with a web-based travel distribution strategy to complement its
property management division.
‘‘The online travel market has been a bright spot throughout the tech
industry’s dark times. Despite intense competition, it’s a very good
market niche to be in,’’ commented Godfrey Hui, CEO of TEDA Travel Group.

In addition to simplified navigation, the company intends to differentiate
itself by providing unique features in the reservation network.
‘‘Features such as lowest rate guarantee and a customized booking
experience are currently not found in the web-based offerings of any of
competitors in China,’’ said Mr. Hui. The two largest online travel
service providers in China are Ctrip and Elong. The company is currently
developing its prototype system.

China’s fast-growing travel industry, worth US$47 billion in 2002, is now
an estimated US$70 billion annual industry. With the Olympics in 2008 and
the Shanghai World Fair in 2010, growth rates are projected between12% and
15% annually.

‘‘Chinese leisure and business travel will continue to fuel growth in our
industry,’’ continued Mr. Hui. ‘‘However, international travel into China
is expected to keep growth rates in double digits for the foreseeable
future. The World Travel Organization predicts that China will become the
number 1 global tourism destination by 2020.’‘